1 00:00:00.185 --> 00:00:00.765 Hey everyone. 2 00:00:00.765 --> 00:00:01.885 Alison Berger here. 3 00:00:01.945 --> 00:00:04.405 I'm at the B2B Finance Expo here in Las Vegas. 4 00:00:04.745 --> 00:00:07.005 I'm now joined with Rick Neely from Toro. 5 00:00:07.015 --> 00:00:08.245 How's it been going so far? It's 6 00:00:08.245 --> 00:00:09.245 Been going great. Thanks for asking. 7 00:00:09.245 --> 00:00:10.085 We're excited to be here. 8 00:00:10.475 --> 00:00:13.485 Tell me about Toro. So, Toro we're, we've been in the, 9 00:00:13.585 --> 00:00:15.045 in this space for a little over 10 years, 10 00:00:15.465 --> 00:00:17.125 so we run kind of two main products. 11 00:00:17.125 --> 00:00:18.485 So one, we're a direct funder, MCA, 12 00:00:18.505 --> 00:00:20.045 so we've been doing that since 2017. 13 00:00:20.545 --> 00:00:22.005 And then the second product, which is kind 14 00:00:22.005 --> 00:00:24.805 of why we're here, is we run a line of credit for startups 15 00:00:24.805 --> 00:00:27.605 or, you know, people that have, uh, higher FICOs. 16 00:00:28.145 --> 00:00:29.285 So, uh, you know, 17 00:00:29.285 --> 00:00:31.085 we fund right now about 10 million a month on that program. 18 00:00:31.385 --> 00:00:33.085 So yeah, super exciting stuff. 19 00:00:33.105 --> 00:00:35.645 So been making a lot of connections, met a lot of people 20 00:00:35.645 --> 00:00:38.885 that I've known through in this space, you know, that work 21 00:00:38.885 --> 00:00:40.165 with us and uh, 22 00:00:40.165 --> 00:00:41.525 being able to put a face to the name is awesome. 23 00:00:42.005 --> 00:00:43.485 That's always a good thing. Yeah, for sure. 24 00:00:43.745 --> 00:00:45.565 So how do you fit into the B2B space? 25 00:00:46.065 --> 00:00:49.245 So, for us, you know, B2B, we, so we fund people 26 00:00:49.245 --> 00:00:51.725 that are preexisting startups, so they're trying 27 00:00:51.725 --> 00:00:53.685 to get the cash to be able to start. 28 00:00:54.185 --> 00:00:56.805 And then, uh, also people that are in business that, 29 00:00:56.865 --> 00:00:58.045 you know, may not want a daily 30 00:00:58.145 --> 00:00:59.605 or a weekly payment, uh, 31 00:00:59.605 --> 00:01:01.165 we can get 'em into a monthly payment on 32 00:01:01.165 --> 00:01:02.205 a revolving credit line. 33 00:01:02.545 --> 00:01:05.205 So, you know, it, it helps a ton of business owners that, 34 00:01:05.545 --> 00:01:07.205 you know, have issues with payroll 35 00:01:07.465 --> 00:01:10.565 or cash flow, like construction companies that you know, 36 00:01:10.825 --> 00:01:11.925 may not be able to qualify for 37 00:01:11.925 --> 00:01:13.085 invoice factoring, things like that. 38 00:01:13.645 --> 00:01:14.725 I was gonna ask you, who's coming 39 00:01:14.725 --> 00:01:15.925 to you? Who are your customers? 40 00:01:16.265 --> 00:01:17.325 Oh, who are the customers? 41 00:01:17.505 --> 00:01:20.965 Um, well a lot of what we do is through brokers, 42 00:01:21.225 --> 00:01:22.565 but I would say a third 43 00:01:22.565 --> 00:01:24.565 of our business is funding construction businesses. 44 00:01:25.105 --> 00:01:27.885 So, yeah, so people that are, they take on a job. 45 00:01:27.885 --> 00:01:29.765 Every construction company has the same problem, right? 46 00:01:29.765 --> 00:01:31.925 So they take on a job, they have to wait to get paid 47 00:01:32.465 --> 00:01:35.445 and then in that meantime they just took on another job 48 00:01:35.545 --> 00:01:37.445 and they need to pay for material pay for their guys. 49 00:01:37.545 --> 00:01:39.405 So, you know, with the line of credit that we do, 50 00:01:39.405 --> 00:01:41.485 they can use it, they can pay it off, they can reuse it, 51 00:01:41.865 --> 00:01:45.085 and it's 0% interest rate anywhere from 12 to 24 months. 52 00:01:45.185 --> 00:01:47.205 So it buys them a year of interest free capital. 53 00:01:47.825 --> 00:01:49.685 Sounds like you got it figured out. Yes sir. 54 00:01:50.025 --> 00:01:51.285 Yes ma'am. Sorry, I'm sorry. 55 00:01:52.475 --> 00:01:54.405 It's all good. So what are you expecting 56 00:01:54.405 --> 00:01:55.885 to get out of the expo this week? 57 00:01:55.985 --> 00:01:57.925 Really just to put faces to names. 58 00:01:58.205 --> 00:01:59.525 I mean, a lot of these guys are people 59 00:01:59.525 --> 00:02:02.005 that have been in this space a long time that, you know, 60 00:02:02.005 --> 00:02:04.205 we have relationships with or have talked with 61 00:02:04.705 --> 00:02:06.605 and, um, you know, also build a lot 62 00:02:06.605 --> 00:02:07.725 of new connections as well. 63 00:02:07.865 --> 00:02:09.805 So it's been a really good event, um, 64 00:02:09.805 --> 00:02:11.085 especially being at the wind. 65 00:02:11.085 --> 00:02:14.085 It's beautiful and, uh, so yeah, we're excited. Great. 66 00:02:14.095 --> 00:02:15.845 Thank you so much for spending some time with me. 67 00:02:15.865 --> 00:02:18.565 And there's still more to come from the B2B finance expo.